2015 Group Benefits Employer Markets Legislative Notice

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2015 Group Benefits Employer Markets Legislative Notice Employee Version Note: The purpose of this Notice is to provide an overview of new laws primarily passed in 2015 that may impact your insurance

1 2015 Group Benefits Employer Markets Legislative Notice Employee Version Note: The purpose of this Notice is to provide an overview of new laws primarily passed in 2015 that may impact your insurance policy. These laws apply to the extent that your policy has the applicable provisions in the contract. DISCLAIMER: The Hartford provides this Notice for informational purposes only. This Notice includes information that may impact policies issued by The Hartford, but does not constitute legal advice. You should continue to consult your employer s legal and HR resources for guidance on the application of the law(s) cited in this Notice. Disclosures Connecticut Senate Bill 201 Effective Date: 1/1/2015 Summary: Insurers providing individual life coverage are required to provide notice to an applicant of their right to designate a third party to receive a copy of cancellation notices for nonpayment of premium. Maine Chapter 580 Effective Date: 10/27/2014 Summary: Maine revised its third-party cancellation notice regulations. The purpose of these regulations is to establish conditions and procedures, including disclosure requirements and cancellation restrictions to protect insureds. Maine provides an insurer 30 days within which to mail or personally deliver a Third Party Notice Request Form following a request by the insured. Additionally, there is a third notice alternative for insureds who pay a portion of their premiums through a payroll deduction plan, which allows the insurer to delay issuing the Third Party Notice Request Form and collection of third party notification information. Oregon House Bill 2850 Effective Date: 5/18/2015 Summary: Carriers providing individual life coverage must provide notice of lapse or termination for nonpayment of premium. You and your designee (if you have one) will now be provided with a written notice at least 30 days before the date of lapse along with an explanation of the reason for the lapse via first-class mail. Alternatively, you and your designee

2 may receive an electronic version of the notice of lapse via if you had previously elected to electronically receive notices related to your insurance policy. California Assembly Bill 2347 Effective Date: 1/1/2015 Summary: All group life insurance policies and certificates offered for sale to individuals age 65 or older in California must provide an examination period of 30 days after the receipt of the policy or certificate for purposes of review of the contract. If the policyholder or certificate holder chooses to cancel the policy or certificate and returns the policy or certificate for cancellation, by mail or other delivery method, within the 30-day examination period, the return shall void the policy or certificate. Insurers must, in a timely manner, refund all premiums paid and any policy or membership fee paid. If not refunded within a timely manner, the policyholder or certificate holder shall receive interest on the paid premium and policy or membership fee at the legal rate of interest on judgments, from the date the insurer or entity received the returned policy or certificate. Virginia Administrative Letter Effective Date: 3/30/3015 Summary: The Insurance Department of Virginia provided guidance for requirements related to adverse underwriting decisions, including the right to obtain the reasons for any adverse underwriting decisions and the responsibility to provide the required notice to insureds as stated in Virginia law. The requirements apply to insurance coverage that is underwritten as to an individual (including group coverage where an individual is subject to individual underwriting.) Discretionary Clauses Oregon Regulation et seq. Effective Date: 3/12/2015 Summary: Carriers must not include a discretionary clause in an insurance policy, contract, or agreement that would reserve discretion to the insurer to interpret the terms of the contract, or to provide standards of interpretation or review that are inconsistent with the Oregon law. Discretionary clause means a policy provision that attempts to bind the claimant, or to grant deference to the insurer, in proceedings following a decision by the carrier involving denials, interpretation of terms, coverage, or eligibility for benefits. 2

3 Guaranty Association Notices The purpose of the Life and Health Insurance Guaranty Associations is to provide you with a limited benefit in the event that the insurance company becomes insolvent and can no longer pay claims. Each state provides coverage under its Life and Health Insurance Guaranty Association for each certificate holder under a group insurance policy. All insurance companies (with limited exceptions) licensed to write life and health insurance or annuities in these states are required, as a condition of doing business in the state, to be members of the Guaranty Association. The Hartford is required by law to provide the Guaranty Association Notice as a means of informing policyholders of the existence and purpose of the Guaranty Association. Maryland, New Hampshire, and Wyoming made changes to their Guaranty Association coverage limits, summarized in the table below. 3

4 State Type of Insurance Coverage Limit Maryland Life Insurance $300,000 (death benefits) $100,000 (cash surrender or withdrawal values) Annuities Health Insurance $250,000 (cash surrender and withdrawal values) $100,000 (health insurance benefits other than those listed below) $300,000 (disability insurance benefits) $300,000 (long-term insurance benefits) $500,000 (basic hospital, medical, and surgical insurance or major medical insurance benefits) The maximum amount of protection for each individual, regardless of the number of policies or contracts is $500,000 in aggregate for basic hospital, medical, and surgical insurance or major medical insurance and $300,000 in aggregate for all other types of coverage listed above. The address of the Maryland Life and Health Insurance Guaranty Association was changed to 8817 Belair Road, Suite 208, Perry Hall, Maryland The telephone number was changed to New Hampshire Life Insurance $300,000 (death benefits) $100,000 (cash surrender or withdrawal values) Annuities Health Insurance $250,000 (cash surrender and withdrawal values) $100,000 (health insurance benefits other than those listed below) $300,000 (disability insurance benefits) $300,000 (long-term insurance benefits) $500,000 (basic hospital, medical, and surgical insurance or major medical insurance benefits) Disability insurance and basic hospital, medical, and surgical insurance or major medical insurance were added as separate categories of health insurance. Structured settlement annuities are added as a type of insurance protected by the Association. Additionally, the Guaranty Association is not obligated to cover more than $5,000,000 for multiple non-group policies of life insurance with one owner of regardless of the number of 4

5 policies owned. Wyoming Life Insurance $300,000 (death benefits) $100,000 (cash surrender or withdrawal values) Annuities Health Insurance $250,000 (cash surrender and withdrawal values) $100,000 (health insurance benefits other than those listed below) $300,000 (disability insurance benefits) $300,000 (disability income insurance) $300,000 (long-term insurance benefits) $300,000 (basic hospital, medical, and surgical insurance or major medical insurance benefits) The maximum amount of protection for each individual, regardless of the number of policies or contracts is $500,000. Contact Information Changes and Important Notice Texas Regulation 28 TAC s Effective Date: 6/1/16 Summary: The Texas Department of Insurance ( TDI ) changed various telephone numbers and fax numbers, as well as its physical address and internet domain name. The changes in contact information are as follows: Contact Information Former Current Domain name tdi.state.tx.us tdi.texas.gov Address 1110 San Jacinto Boulevard Austin, TX Guadalupe Street Austin, TX

6 Telephone or Fax Number in Rule, New Telephone and Fax Number Form, or Figure (telephone) (telephone) (telephone) (telephone) (fax) (fax) (telephone) (telephone) (telephone) (telephone) (fax) (fax) (fax) (fax) (fax) (fax) (telephone) (telephone) (telephone) (telephone) (telephone) (telephone) (telephone) (telephone) (telephone) (telephone) (telephone) (telephone) (telephone) (telephone) (telephone) (telephone) (telephone) (telephone) (fax) (fax) (fax) (fax) (telephone) (telephone) (telephone) (telephone) (telephone) (telephone) (fax) (fax) (telephone) (telephone) (fax) (fax) (telephone) (telephone) (fax) (fax) 6

7 (fax) (fax) (telephone) (telephone) (telephone) (telephone) 1 IMPORTANT NOTICE To obtain information or make a complaint: 2 You may contact your (agent/third party administrator/ managing general agent/employee benefits coordinator) at (telephone number OR where the applicable telephone number can be found). 3 You may call The Hartford s toll-free telephone number for information or to make a complaint at: You may also write to The Hartford at: P.O. Box 2999 Hartford, CT You may contact the Texas Department of Insurance to obtain information on companies, coverages, rights, or complaints at: 1 AVISO IMPORTANTE Para obtener información o para presentar una queja: 2 Usted puede comunicarse con su (agente/administrador tercero/ agente general/administrador de beneficios para empleados) al (telephone number OR where the applicable telephone number can be found). 3 Usted puede llamar al número de teléfono gratuito de (company) s para obtener información o para presentar una queja al: Usted también puede escribir a The Hartford: P.O. Box 2999 Hartford, CT Usted puede comunicarse con el Departamento de Seguros de Texas para obtener información sobre compañías, coberturas, derechos, o quejas al: 7

8 You may write the Texas Department of Insurance: P.O. Box Austin, TX Fax: (512) Web: ConsumerProtection@tdi.texas.gov 7 PREMIUM OR CLAIM DISPUTES: Should you have a dispute concerning your premium or about a claim, you should contact the (agent) (company) (agent or company) first. If the dispute is not resolved, you may contact the Texas Department of Insurance. 8 ATTACH THIS NOTICE TO YOUR POLICY: This notice is for information only and does not become a part or condition of the attached document Usted puede escribir al Departamento de Seguros de Texas a: P.O. Box Austin, TX Fax: (512) Sitio web: ConsumerProtection@tdi.texas.gov 7 DISPUTAS POR PRIMAS DE SEGUROS O RECLAMACIONES: Si tiene una disputa relacionada con su prima de seguro o con una reclamación, usted debe comunicarse con (el agente) (la compañía) (el agente o la compañía) primero. Si la disputa no es resuelta, usted puede comunicarse con el Departamento de Seguros de Texas. 8 ADJUNTE ESTE AVISO A SU PÓLIZA: Este aviso es solamente para propósitos informativos y no se convierte en parte o en condición del documento adjunto. The Hartford is The Hartford Financial Services Group, Inc. and its subsidiaries. 8

ReliaStar Life Insurance Company 20 Washington Avenue South, Minneapolis, MN 55401

ReliaStar Life Insurance Company 20 Washington Avenue South, Minneapolis, MN 55401 NOTICE TO CALIFORNIA POLICYHOLDERS/CERTIFICATEHOLDERS KEEP THIS NOTICE WITH YOUR INSURANCE PAPERS If you have a question